Vishwa Samudra Engineering (VSE) has secured a loan of up to €40 million from a Swiss bank for the Varanasi Ropeway Project under the National Highway Logistics Management(NHLML), a subsidiary of NHAI.
The Varanasi Ropeway Project is India’s first urban ropeway and only the second globally, representing a major step in sustainable urban transport.
With Bartholet Maschinenbau AG of Switzerland as the technology partner, the loan agreement will support payment for manufacturing and exporting equipment from Switzerland to India.
“This impressive financing underlines VSE’s strong European investment strategy and commitment to securing competitive funding terms, which are essential for pioneering projects like the Varanasi Ropeway. We are paving the way for future foreign investments, presenting a blueprint for other Indian infrastructure companies to explore international financing as a viable alternative to domestic sources while strengthening India’s position in the global infrastructure landscape,” said Shivdutt Das, Executive Director of VSE.
